You want to purchase a security that will pay you $1,000 seven years from now.If you want to earn an annual nominal rate of 6.5 percent,how much should you pay for this investment today?
A)$627.41
B)$630.17
C)$641.41
D)$643.51
E)$662.01

Question

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The Answer of You want to purchase a security that will pay you $1,000 seven years from now.If you want to earn an annual nominal rate of 6.5 percent,how much should you pay for this investment today?
A)$627.41
B)$630.17
C)$641.41
D)$643.51
E)$662.01

You Want to Purchase a Security That Will Pay You